Page 43 - Finance Minister

No decision yet on ban lifting on cotton import from India: Pakistan FM

Pakistan's Finance Minister Miftah Ismail on Wednesday said that the country's textile sector had demanded lifting of a ban on the import of cotton from India, but the government has so far not taken any decision on the issue. Addressing a press conference along with Defence Minister Khawaja Asif here, Ismail talked about the damage caused to the cotton crop due to devastating floods that have affected more than 33 million people, inundated a third of the country and caused losses of more than USD 10 billion. Replying to a question with respect to trade with India, the minister said that the All Pakistan Textile Mills Association (APTMA) was asking the federal government to allow import of cotton from India. "The government has not taken any decision yet," he said, without elaborating when such a decision could be taken. Pakistan suspended trade with India after the latter revoked the special status of Jammu and Kashmir in August 2019. But the ban is hurting the crisis-hit country

FM Sitharaman stresses on timely completion of IMF 16th quota review

Finance minister Nirmala Sitharaman on Wednesday underlined the need for timely conclusion of 16th General Review of Quotas (GRQ) to provide greater say to developing economies in the International Monetary Fund. As per an IMF resolution, the 16th General Review of Quotas should be concluded by December 15, 2023. Any adjustment in quota shares would be expected to result in an increase in the voting rights of emerging countries in line with their relative positions in the world economy. Sitharaman made the comments during her meeting with MD of IMF Kristalina Georgieva who is visiting the country to discuss India's upcoming G20 presidency and IMF's support to India for the presidency. "FM Smt. @nsitharaman emphasised the importance of timely conclusion of 16th General Review of Quotas GRQ) in a way that addresses inequity and imbalances in the global economy," the finance minister said in a series of tweets. Georgieva agreed with Sitharaman that for the IMF to remain relevant, it i

Job creation, wealth distribution priority over inflation: FM Sitharaman

The finance minister said if India and the United States joined efforts in growing their respective economies, they might be the engines of global growth within the next two decades

As freebies debate rages, a look at states' contingent liabilities

The net borrowing ceiling of states is mandated by the FRBM Act. However, the upper limit of what their contingent liabilities can be is set by states' own legislative bodies

Financial inclusion major step towards inclusive growth: FM Sitharaman

Financial inclusion is a major step towards inclusive growth which ensures the overall economic development of the marginalised sections of the society, Finance Minister Nirmala Sitharaman said on Sunday. The success of the Pradhan Mantri Jan Dhan Yojana (PMJDY) since August 28, 2014 is reflected in terms of opening of over 46 crore bank accounts with deposit balance of Rs 1.74 lakh crore with its expanded coverage to 67 per cent rural or semi-urban areas as well as 56 per cent of women Jan Dhan account holders, she said on the eighth anniversary of the flagship financial inclusion scheme. "Continuation of PMJDY beyond 2018 saw a marked shift in approach to meet challenges and requirements of the emerging FI (financial inclusion) landscape in the country. "There has been a shift in focus from 'every household' to 'every adult', with added emphasis on usage of accounts by enhancing Direct Benefit Transfer (DBT) flows through these accounts, promoting digital payments through the use

Freebies row: Poll promises should be met via budgetary provisions, says FM

Meanwhile, the apex court has asked a three-judge Bench to review a past order on the issue, which said that such handouts are not a corrupt practice

Govt executing each scheme covering all eligible persons: FM Sitharaman

The Finance Minister commended Nagaland for performing well in schemes like Atal Pension Yojana, MUDRA and Standup India

New ODI regulations: Govt allows investment in financial services abroad

Holding less than 10% in an overseas entity not considered 'control'

Legislation or court guidelines? Who will put freebies in a box?

Experts dwell on whether or not there can be a legal definition of the term 'freebies'

What's a freebie? Experts dissect basic definition amid SC hearings

'Strain on exchequer arising from sops to industry, bad loan waivers, etc., must be discussed'

Banks must ensure credit schemes reach eligible citizens: FM Sitharaman

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

Govt nods enhancing ECLGS limit to Rs 5 trn for hospitality, allied sectors

Union Cabinet has approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme by Rs 50,000 crore Rs 5 Lakh crore, with the additional amount being earmarked entities in hospitality

WazirX controversy bares crypto's vault of trade secrets in India

The ED found that large amounts of funds were diverted by the fintech companies to buy crypto assets and then launder them abroad

Jal Jeevan Mission makes significant strides in 3 years since inception

Around 52% of rural households have been provided piped water supply till August

Panel led by cabinet secy seeks more info on Central Electronics sale

Privatisation of state-owned firm held up after money laundering case against top bidder

Kerala FM blames Centre for cutting resources by Rs 23,000 crore

Kerala Finance Minister K N Balagopal has written to Nirmala Sitharaman asking her not to include borrowings of state entities while fixing their debt limits

Jairam Ramesh slams FinMin, calls tax hike cruel when CPI inflation over 7%

Congress denounced Finance Minister Nirmala Sitharaman for defending the hike in GST rates and questioned the timing saying its "cruel" to hike the rates when CPI is over 7 per cent

Pre-packed, labelled cereals, pulses, flour over 25kg exempt from 5% GST

Single packages of unbranded pre-packed and labelled food items like cereals, pulses and flour weighing in excess of 25 kg are exempt from 5 per cent GST levy

G-20 meet: FM Sitharaman for info sharing on crypto, immovable assets

Tax evaders explore other avenues to shift their unaccounted wealth through investment in non-financial assets, Sitharaman pointed out

Automatic exchange of info should also cover assets like crypto: FM at G20

Finance minister Nirmala Sitharaman on Thursday said G20 should examine the feasibility of bringing non-financial assets like crypto in the ambit of exchange of information among nations